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Muthoot Homefin (India) Ltd NCD (Muthoot Homefin NCD (March 2019)) Detail

Apr 8, 2019 - May 7, 2019
Muthoot Homefin (India) Ltd Logo

Incorporated in 2011, Muthoot Homefin (India) Limited is a fully owned subsidiary of Muthoot Finance Limited, a gold financing company. With 20,237 customers' base, the company provides affordable housing loans to the economically weaker sections and lower & middle-income group people of Indian society in tier 2, tier 3 and tier 4 cities. It is a non-depository financial company regulated under with the National Housing Bank ('NHB').

They help the customers in arranging funds for housing-related works such as renovation, improvement, extending existing residential properties, constructing a new residence, and purchasing a new property. Muthoot Homefin (India) offers loan products to customers by creating a mortgage on the residential properties of the customers.

The company has some strategies to implement for future growth, which are:

1. Planning to increase geographical reach:
In order to cope up with the growing demand and increase customer reach in Eastern and North-Eastern parts of India, the company is planning to extend the branch network. It has entered into an agreement with MFL to use the existing branches located in those areas for business activities. The company is also planning to cross-sell, customize the existing and introduce the new products.

2. Take advantage from MFL relationship
The company will cross-sell the housing loan products to the existing customers of MFL by providing a pre-sanction authorisation letter mentioning the maximum loan amount they can apply.

3. The new technology transformation program
To improve the operational efficiency and optimise the cost with automation introduction, the company is planning for technology transformation program. It will also improve the know our customer procedure.

4. Diversifying fund sources
The company gets term loan from the bank for the business operation and to lend the customers. By diversifying the sources in future, it can maintain adequate interest margins, reduce funding costs, and offer adequate liquidity to customers.

The competitive strengths of the company are:

Government policies favouring the growth opportunities
Stable credit ratings
The robust Risk management system
High asset quality
A fully owned subsidiary of Muthoot Finance Ltd

Muthoot Homefin NCD (March 2019) Detail

Issue Open Apr 8, 2019 - May 7, 2019
Security Name Muthoot Homefin (India) Ltd
Security Type Secured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Issue Size (Base) Rs 150.00 Crores
Issue Size (Shelf) Rs 150.00 Crores
Issue Price Rs 1000 per NCD
Face Value Rs 1000 each NCD
Minimum Lot size 10 NCD
Market Lot 1 NCD
Listing At BSE
Credit Rating CRISIL AA/Stable
Tenor 24 months/38 months/60 months/90 months
Series

Series 1 to Series 10

Payment Frequency Monthly
Basis of Allotment Priority Basis

NCD Allocation Ratio

NCD's allocated in each investor category:

Category ? NCD's Allocated
Category 1 0%
Category 2 0%
Category 3 0%
Category 4 0%

NCD's Offered

NCD's offered in each investor category:

Category ? NCD's Reserved
Category 1 150,000
Category 2 150,000
Category 3 450,000
Category 4 0
Total NCD's 1,500,000

Coupon Rates

Coupon Rates for Each Series

Series 1 Series 2 Series 3 Series 4 Series 5 Series 6 Series 7 Series 8 Series 9 Series 10
Frequency of Interest Payment Monthly Monthly Monthly Annually Annually Annually NA NA NA NA
Tenor 24 months 38 months 60 months 24 months 38 months 60 months 24 months 38 months 60 months 90 months
Coupon Rate (Retail) 9.25% 9.50% 9.75% 9.50% 9.75% 10.00% NA NA NA NA
Amount on Maturity Rs 1,000 Rs 1,000 Rs 1,000 Rs 1,000 Rs 1,000 Rs 1,000 Rs 1,193.5 Rs 1,333.7 Rs 1,592.29 Rs 2,000

NCD Rating Detail

CRISIL has assigned its 'CRISIL AA/Stable' on the non-convertible debentures of Muthoot Homefin India Limited (Muthoot Homefin). The rating on long-term bank facilities has been reaffirmed at 'CRISIL AA/Stable'.

Company Promoters:

The promoter is Muthoot Finance Limited.

Objects of the Issue:

The objects of the issue of the company are:

1. For the purpose of onward lending, financing, and for repayment/ prepayment of interest and principal of existing borrowings of the Company; and
2. General corporate purposes.

Muthoot Homefin NCD (March 2019) Prospectus

Muthoot Homefin NCD (March 2019) Rating

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Company Contact Information

Muthoot Homefin (India) Ltd
Muthoot Chambers, Kurians Tower,
Banerji Road, Ernakulam North,
Kochi - 682 018, Kerala,

Phone: +91 484 6690 599
Email: ncd@muthoothomefin.com
Website: https://www.muthoothomefin.com/

Muthoot Homefin NCD (March 2019) Registrar

Link Intime India Private Ltd
   Link Intime India Private Ltd
   C 101, 247 Park, L.B.S.Marg,
   Vikhroli (West), Mumbai - 400083

Phone: +91-22-4918 6270
Email: mhfil@linkintime.co.in
Website: http://www.linkintime.co.in

Muthoot Homefin NCD (March 2019) Lead Manager(s)